Question 3 Alex and PengPeng are married and in their late 40s. They have two children (4 and 7 years old, respectively) and are currently living in Perak. Alex was recently promoted as a manager of a large pharmaceutical firm and was required to transfer to the headquarters located in Kuala Lumpur. PengPeng is a full-time housewife. Alex earns RM100,000 per year and they live well within their means. (a) Alex is concerned that if he dies prematurely, PengPeng and their children may not have enough financial protection. As a financial planner, advise Alex on the type of insurance suitable for him. (8 marks) (b) Alex has decided to rent a double storey house near to his work place. Discuss how he can protect himself with a renters insurance. (10 marks) (c) Alex and PengPeng want to accumulate RM600,000 in their bank account 15 years from now for their childrens education. If they can earn an interest of 8% per annum on the investment, calculate how much they should deposit at the end of each quarter to achieve their goal. (7 marks) [Total: 25 marks]